I need assistance on filling out slide 3 and 4 on my presentation can anyone assist with the Section of how to explain your promotional strategy for your product of service? I am in need of these 2 slides being filled out with speaker notes.

Thank you

I have attached my last 2 papers that these are supposed to be compiled from for review and hopefully assistance.

Prepare a 15- to 20-slide Microsoft PowerPoint presentation illustrating your promotional strategy.

Compile the information presented in your previous papers.

Include the following in the presentation:

• Explain your promotional strategy for your product or service.
• Include how you will use at least three of the following elements:
  • Advertising
  • Public relations
  • Digital marketing, including social media
  • Sales promotion
  • Direct marketing
  • Event marketing
  • Outdoor
• Develop an initial budget for your plan.
• Prepare a pie chart showing the dollars/percentages budgeted for each included marketing activity for the first year.
• Provide justification for your choices.
• Explain the evaluation and control methods you will use to measure the success of your plan.

Format your assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

Promotional Strategy Presentation Seto Assatoourian , Marina Chavez, Aidee Lopez, Tiffany Mann, Patricia McCarty, Loriann Sandoval, Shirley Torres MKT/421 March 28, 2016 Thomas O'Brien Introduction Promotional Strategy Promotional Strategy cont. Elements Advertising Public Relations Digital marketing, including social media Sales promotion Direct marketing Event marketing Outdoor Advertising Element 1 Element 2 Element 3 Budget Budget Cont. Justification of Choices Evaluation and Control Methods Evaluation and Control Methods Cont. Conclusion References Starbucks image provided by: www.tripwire.com 1 Strategy and Positioning Analysis Part 2 MKT/421 March 21, 2016 2 Strategy and Positioning Analysis Part 2 There are different stages to each products life cycle. We will explore how a delivery service for Starbucks will go through different stages. The product life cycle has an introduction, growth, maturity, and decline stage. Each area will be explored for the delivery service. Along with the different stages of the product the packaging and pricing strategies will also be explored. Environmentally friendly packaging is important to the company. Starbucks will conduct research to provide the best packaging that will also be environmentally friendly. Finding the righ price point is important as well. Finally, an evaluation of the distribution strategy for the delivery service will be explained. Let's get started and explore the potential of a delivery service with the Starbucks Company. Product Life Cycle A Product's life cycle is four stages a product or service goes through within the marketplace. There is no determined time frame of what a product's life cycle will be. According to (Titman, Keown, & Martin, 2015, chapter 11), usually consumer products have a shorter life cycle than business products. Starbucks is no exception to this process. As the delivery service goes through the product life cycle Starbucks will look for indicators to help identify each stage. This will help the company be prepared to make adjustments along the process. The marketing team for Starbucks is always looking at different products and services to offer the customer. The following is how Starbucks will handle each life cycle stage. Introduction Stage When a product or service is first introduced to the intended target market, the product or service is in its introduction stage. Sales growth is slow and profit is minimal (Kerin, Hartley, Rudelius, 2015). The introduction stage of the product life cycle is about building demand and a market for the coffee delivery service. The marketing for Starbucks during this stage is to 3 establish consumer awareness and initiate consumer's purchase of the delivery service. Starbuck has devoted a major amount of the startup costs for advertisement. Consumer awareness will be made heavily within Starbuck stores. Starbuck will also offer promotional incentives, such as buy one get one and free delivery after a certain dollar amount is spent. At this time, there is limited competition; therefore Starbucks can capture a higher market share. Less competition also means Starbucks has the ability to offer a higher delivery fee. By starting with a price above what may eventually become average market price, Starbucks will be able to recoup some of the startup costs. Growth Stage Rapid increases in sales characterize the growth stage of the product life cycle (Kerin, Hartley, Rudelius, 2015). Objectives during this stage include increasing sales and establishing the delivery service's position within the market. Consumer, awareness will continue to grow, therefore there will be more of a demand and the market will increase. Starbucks will achieve consumer demand with promotional and marketing activity. A portion of the profits will be reinvested into marketing during this stage. This will also help with reducing the threat of any competition that may enter the market. According to Kerin, Hartley, and Rudelius (2051), it is crucial to broaden product distribution. Starbucks will broaden distribution by expanding its delivery service by adding this service to additional store locations. Maturity Stage The Maturity Stage is when a new product or service sales slow down. This could be because of competition, some consumers have tried the product or service and stopped using it, and there are fewer new customers, (Titman, Keown, & Martin, 2015, chapter 11). Starbucks will approach this stage with a marketing team who will watch the market and come up with innovative marketing approach to keep the service fresh to the consumer. This may include but 4 not limited to; reduce pricing, new campaign ads, and in-store promotions. Because of competition Starbucks may have to lower prices. Campaign ads that appeal to office workers and students will be helpful. In-store ad campaign will remind the consumer while picking up that cup of coffee on their way in to the office or study group they have the option to have their second cup delivered. The key is to keep it fresh and attractive to the consumer. Decline Stage (Titman, Keown, & Martin, 2015, chapter 11), the product decline stage is when sales drop, to no fault of the company in some cases. There are two ways to handle the decline stage. The first is deletion. A product or service will be eliminated all together. The second is harvesting. This is when a company does not spend money on the marketing of the product or service but will still offer it. During this phase Starbucks may choose to harvest the delivery service. An option for Starbucks would be to offer the service to corporate or large events. The order would have to be place at least twenty four hours ahead so the store could prepare and arrange for delivery. Life Cycle and the Consumer (Titman, Keown, & Martin, 2015, chapter 11), the life cycle of a product or service is dependent on the consumer to make the purchase. Not all consumers will buy into the idea right away. There could be many reasons why consumers are hesitant. A few examples are; environment, convenience, lack of knowledge about the product or service. The environment could be the state of the economy, if consumers do not have excess spending cash they may choose not to pay for delivery. Picking up a cup of coffee may be more convenient on the ride into work rather than paying for delivery. If Starbucks does not communicate the service well enough the lack of knowledge could stop consumers from making the purchase. A good marketing team will watch for these barriers and have a plan to break through them so that the delivery service is successful. 5 Product Packaging Packaging and service offered is something that has to be eye catching and attention grabbing in order to sell. When it comes to packaging we need to keep in mind that it does not only sell our product, it sells the brand because it connects with our consumers. When we think of Starbucks we think of the mermaid in some instances while other just thinks of the great tasting coffee and all the varieties they have to offer. Starbucks keeps the names of each coffee short and descriptive such as Veranda Blend, Breakfast Blend, Blonde Blend, Christmas Blend, and many more. A service that has really assisted in the success of Starbucks is that they take their customers seriously and put them first. They have a policy that allows a customer to obtain a free cup of coffee if they are not satisfied with what they have gotten, which shows a strong focus on their customers. The Unique Selling Position and the core business of Starbucks is their coffee. They have been able to refine their business model in order to keep up with the focus on their products and ensure that the customer gets the best cup of coffee they can. Starbucks also offers a build your own recipe option online which allows a customer to come up with their own special blend and then go into one of the stores to have someone make it for them. With the services offered by Starbucks, they have been able to show their focus on the core product and the adaptability to change their product line when needed in order to keep up with the customer needs. Pricing Strategy The appropriate pricing for our product will depend on many different factors. First, we need to analyze all costs that are associated when putting together a cup of coffee. The price to 6 produce will include labor and other things like rent and utilities. The price of goods sold is made up of what items are put inside of the coffee. Products used to make a cup of coffee will be coffee beans, sugar, milk, water, caramel, toffee and many other products. The products for these items will range from season to season; therefore the price should be good enough to profit all year long. Shpak (2016), "Total these costs for a period and divide by the number of cups sold. Add a percentage for profit, the markup, and you have your per-cup price"(Cup of Coffee Pricing Strategies). Once all these prices are determined, then the price of a cup of coffee can be determined. Our company knows that there is strong competition out there. We will set competitive pricing against other coffee shops nearby. The thing we also know is that we will be one of the very few companies delivering coffee shops. This is why we can set the price for convenience when adding our delivery charges. We will include a distance that we would be able to deliver. After this, determine gas prices will be determined. A flat rate to delivery will be set for our customers. We will also offer rewards programs on our delivery service. Our customers will pay for convenience delivered right to their doorsteps. This flat rate will be $8 for a delivery service of 5 miles or less. The farthest we will deliver is 10 miles at a flat rate of $12. Once we launch this service we will evaluate how much our service is used and can either raise or lower our delivering service. Channels of Distribution When it comes to launching a new product or simply trying to expand the attention of new customers on existing products convincing them to purchase these items, Starbucks uses several channels of distribution to achieve these goals. There are several channels of distribution that can 7 be used; the importance of using these channels is to know the target you are trying to reach. Instore advertising can be a way of communicating the new delivery service. Another option is a print campaign on cups. Both could reach the person stopping on their way to work or school. Since it can be hard to reach some geographical areas by direct sales team, Starbucks main focus is reaching out to new territory. Reaching out to new territory is important to increase sales as well to attract new customers. Technology has made it very easy to advertise a company by the use of the internet. By choosing to market the product on the internet, the company can be sure that the message will reach areas where it can be difficult to reach. Social media is a good source for online advertising. The costs of using these channels are also important for the company. Comparing the costs that using these channels will create will allow the company to choose the type of strategy that they want to use by either continuing to use a direct sales team only or by expanding it to indirect distribution channels. Contribution and support is another area that the company focuses in by finding ways that they can work with distributors that can provide the company with extra knowledge on the local market. This strategy is cost effective since they are contributing this information at no marketing or direct sales costs. By supporting the needs of the use of these channels the company can also benefit by establishing training that will increase the knowledge of marketing and advertising, causing Starbucks to continue having excellent sales in the business and adding value incorporating channels of distribution. Conclusion In conclusion, it is important for a company to execute all four stages of a products' life cycle in order to market a new product or service that is offered. For Starbucks to achieve 8 successful marketing, it must also do the same. In the introduction stage, Starbucks has to bring awareness of the delivery service. In the growth stage, they must convince the customer to purchase the service. In the maturity stage, existing customers need to be maintained. In the decline stage, the delivery service is phased out. Furthermore, packaging and presentation is also key in the service's success in attracting customers. Finally, a proper distribution plan is necessary to circulate the service to a customer base. All of these factors are needed for Starbucks' delivery service to succeed and thrive in its competitive market. 9 References Shpak, S. (2016). Chron. Retrieved from http://smallbusiness.chron.com/cup-coffee-pricingstrategies-48911.html Linton, I. (2016). Chron. Retrieved from internet website on March 18, 2016 http://smallbusiness.chron.com/develop-distribution-channel-strategy-56913.html Titman, S., Keown, A. J., & Martin, J. D. (2015). Marketing (12th ed.). Retrieved from The University of phoenix eBook Collection database. 1 Strategy and Position Analysis Part 1 MKT/421 March 14, 2016 2 Strategy and Positioning Analysis Part 1 There are many things to consider when adding a product or service to a company. Starbucks is a successful company that continues to add products and services. Team A has come up with an idea to add a delivery service. A few things to consider are, the cost of hiring drivers, and the consumer interest in such a service, and what the competition may do. The goal of adding the service is to increase revenue. The information in this report will help us determine if this is a good strategy for Starbucks. The History of Starbucks Jerry Baldwin, Zev Siegl, and Gordon Bowder opened the first Starbucks store. The store sold coffee and the equipment to make coffee in 1971. About ten years went by, and Howard Schultz joined the team as Director of Retail Operations. After trying to convince the owners to sell drinks rather than equipment, Mr. Schultz went out on his own and started his coffee house business. After about a year Howard Schultz bought Starbucks and made it his own and quickly expanded. During the 1990's Starbucks offered the stock option to the employees and the company went public. Today, Starbucks has grown to more the 17,000 stores and were in 55 countries. Starbucks products include specialty drinks, pastries, and food items ("History of Starbucks", n.d.). Coffee Delivery Service According to "Starbucks" (2016), "our mission to inspire and nurture the human spirit - one person, one cup, and one neighborhood at a time" (Company Information). Starbucks started as a small coffee shop. However, today they offer more than 30 different coffees, tea, smoothies, other beverages, pastries, salads, sandwiches, oatmeal, yogurt parfaits and fresh fruit. They also have products to cater to children, such as hot chocolate. Having so many options makes it a stop 3 that anyone can go and get something they like. Along with the product, they offer merchandise such as cups, coffee equipment, coffee beans, and apparel for purchase. Adding a delivery service to this company would make the services mobile to those who don't want to leave the house or can't leave work. This service also opens the doors to corporate events. The service would increase exposure and sales. It would also help them meet the mission goal quicker. Having the ability to take hot beverages, cold beverages, and food products to different locations would attract a bigger market audience. The cost associated with adding a delivery service would include having vehicles that could hold equipment to keep items cold or hot. It would also include hiring staff to deliver the products. There would be the initial expense of buying the vehicles and equipment needed. However, the potential for return on the service far outweighs the cost. SWOT Analysis 4 Strengths (Internal) Brand portfolio; Starbucks has a strong brand/image, loyalty, and awareness. Brands include, but not limited to, Teavana, Tazo, and Seattle's Best Coffee. Accessibility; As of June 2015, Starbucks has 22,519 stores in prime locations (Starbucks, 2016). Solid financial position; in 2015, Starbucks had a profit of 2.757 billion, a 33.3% increase from 2014(Starbucks, 2016). Wellbeing of employees; respected employer who values workforce and has strong ethical values and mission. Starbucks offers a comprehensive benefits plan to its employees, which includes medical and 401K, provides extensive training, and also offers a college achievement plan. Weaknesses (Internal) Natural disasters may affect supply chain Expensive products. The consensus among customers and industry analysists is that Starbucks products are more expensive than compared to other coffee house chains, such as Dunkin Donuts, Black Rock, and Dutch Bros Dependent on the main product, retail of coffee Opportunities (External) New distribution channels, leverage brand name outside of the companyoperated store base, introducing delivery service Product innovation and new customer platform; emphasize new delivery service Monopolize on the delivery service; competitors do not offer this service Cobranding and consumer packaged goods, such as coffee beans and KCups Threats (External) Startup costs for new product and services Economic conditions may decrease customer spending Competition is growing within the coffee industry; loss of sales because of substitute products Selfcannibalism; store locations are located closely together Competitive Analysis Understanding the competitive market in which Starbucks is operating is quite diverse. It faces competition from other major corporate chains such as Coffee Bean and Dunkin Donuts. These large operations function very similarly to Starbucks as far products, pricing and availability. At the same time another major competitor or small privately owned coffee shops. These are more special and limited operations can acquire a portion of the market just as much as 5 the bigger companies can and in some instance more so due to customers wanting to help out the small organizations that are privately owned. With the offering to be able to deliver coffee and other items that are sold at the store front, Starbucks can really capitalize on a market that is virtually untapped. As no major competitor offers this service, and smaller operations may not have had the manpower and strategizing to deliver on time, Starbucks can truly be the first to gain ground in this market. While some restaurants that use apps for food delivery exist, an in-house operation like this would remove the middle man while at the same time being able to market truly fresh coffee delivered to your door. Another business's on apps like Eat24 or GrubHub sell food primarily, and avoid drinks due to the concern of spilling. Finding a way to capitalize on this opportunity, for a major organization like Starbucks can set the standard and pave the way for coffee deliver in the future. Options, later on, such as developing an app can also streamline the process. Target Market In target marketing, the marketer focuses on finding ways to target a group of consumers in a focused group. For the marketer to be able to accomplish and meet their goal they customize their message to the targeted group by dividing it by geographic, demographic, psychographic, and behavioral factors. Demographic Starbucks is affected by public opinion just like every other company brand and sector. By marketing by demographics the company can target the groups that are the ones consuming their products and what choices they prefer to see. In a study conducted it is said that 13% of American adults prefer Starbucks over other coffee companies. Most of these customers remain 6 loyal to Starbucks but on few occasions, it was stated that they have visited other coffee shops. There was a decrease in the number of times a customer who visited 6 or more times in a month. Psychographic Good presentation and a wellorganized company are what a customer wants to see when walking into a business. Starbucks does have opted for the use of uniform, creating a professional appearance. Including a very comfortable and enjoyable atmosphere at their locations plus free use of WiFi has made it seem more inviting and pleasant. Including quality ingredients in the coffee and also eliminating all GMO's from their products has made it better for people to see that they are getting the good quality for the amount of money that they are spending. Geographic Starbucks has many store locations, and can reach many customers. They do not have to worry about only focusing on what the consumers want in a small region; they focus more on targeting the customers preferences based on the location of the store and what each of the customers prefers to see as a selection. Focusing on the needs of a consumer at a geographic level can help see where the need for home coffee delivery will be needed and used the most. Behavioral Factors Behavioral factors of a consumer are also important in target marketing. It is essential to know the way the person is going to respond to a specific product offered or if they even have knowledge of what the product is or how it tastes. A good example that Starbucks does is that they offer samples of their new products that they offer, this can allow them to see whether 7 customers will buy the item or not. If customers purchase coffee on occasions then by offering new products will help them increase consumers and their sales at the same time. Needs of the Target Market Starbucks target market is anyone of any age. They sell their Starbucks experience across the globe. The store offers a variety of items to all ages and all preferences such as juice, cocoa, creamy blended drinks, tea, coffee, etc. Starbucks continues to refine and target their product by keeping up with the changes in the consumer's taste. The stores sell specialty breakfast foods such as scones, muffins, bagels, sandwiches, etc., which pair nicely with their coffees and teas. From the points above, we knew that Starbucks would be distinguished from other coffee shops because of what they have to offer. They offer a superior value and target a wide market which goes around the globe. The largest market for Starbucks is by remaining in the metropolitan areas. By positioning themselves within the business areas, they are creating convenience to their customers. They have positioned themselves around universities giving students a place to go and write term papers, study, and hang out with friends. By positioning themselves strategically, they have been able to target the majority of the business, and they are now branching out to residential areas with drive up windows offering commuters an easy stop on their way to work. Then needs for the target market is going to be location. When a company can give the business person, executives, commuters, and students somewhere to go that is convenient for them, offers what they are looking, and gives them that jump start in the mornings they crave; they have targeted a specific market. With Starbucks offering such a large variety of product they are targeting everyone ones taste no matter age or gender. Starbucks is there to cater to the people offering fast, convenient, and friendly service. 8 Positioning Statement At Starbucks, our products and services are made with care. According to "Starbucks" (2016), "Our buyers work directly with a diverse set of suppliers who share our social and environmental values to negotiate contracts for the products we need in our operations or sell to our customers"(para. 1). This explains why our vision is the following. "For Starbucks lovers who are delighted by expedited service, Starbucks is a Coffee Industry that provides excellent service with a smile right to your doorsteps. Unlike any other competitor, we offer low prices and extraordinary convenience." The products we offer solves the target markets needs by providing products and services to adults that are coffee lovers. The amount of adults that drink coffee is vast. Wagner (2016), "According to SBDCNet, 77 percent of adults in the United States drink coffee on a daily basis" (What is the Target Market for Coffee?). Imagine having a limited amount of time to get to work without your morning coffee. This day would start off horribly wrong if the coffee were part of that individual's daily routine. Now, imagine picking up the phone and ordering a cup of coffee from the coffee shop down the street from your work location. This person's day would just be switched around by that coffee shop. Adding a delivery service will allow peace of mind and flexibility to our customers. They will not have to worry because their cup of coffee is right around the corner. Starbucks is different from its competitors because they offer a variety of services throughout the day. It is a place where you can purchase the coffee mug you have been wanting or sit down with a friend to enjoy a hot cup of coffee. It is also a place that everyone fits in throughout the whole day. Lastly, a Starbucks location could be found within a mile from your location. This is the convenience, and it is what our customers love about us. Conclusion 9 From the report, a simple idea of adding a coffee delivery service takes time and planning. The history or Starbucks proves it is a successful company. Many items have been introduced and failed, but the executives for Starbucks are doing something right. The SWOT Analysis is a good source to see visually the strengths and weaknesses of the idea. Performing a competitive analysis and understanding the target market is important. Once the research has been completed, a thorough marketing plan is put together and is used as a guide to put the idea in place. 10 References Starbucks. (2016). Starbucks Company Profile. Retrieved from http://www.starbucks.com/about us/companyinformation/starbuckscompanyprofile Starbucks. (2016). Retrieved from http://www.starbucks.com/responsibility/sourcing/storeproducts Wagner, N. (2016). Chron. Retrieved from http://smallbusiness.chron.com/target-market-coffee71600.html http://www.experian.com/blogs/marketingforward/2009/12/01/demographicandpreferences ofcoffeedrinkersinamerica/ Demographics A key to Effective market Research. (n.d.). Retrieved from http://keltonglobal.com/demographicsakeytoeffectivemarketresearch/ Examples of Geographic Segmentation. (n.d.). Chron, (), Retrieved from http://smallbusiness.chron.com/examplesgeographicsegmentation 61612.html History of Starbucks. (n.d.). Retrieved from http://www.coffee.org/HistoryofStarbucks